Dudley offers new expat mortgage range

John Hewitt Jones

September 22, 2016

Jonathan Moore

Dudley Building Society has launched a number of new expat mortgage products.

Rates of 3.99% are available for residential purchase, buy-to-let, and remortgage transactions.

Jonathan Moore, head of credit at Dudley, said: “We have been taking soundings from our partners and expat mortgages have been one of the areas which has kept coming up as an underserved sector of the market.

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“It seems that Brexit has not dampened the demand for expat finance and we have set out to offer a strong proposition for advisers to put before their clients, which covers both purchase and remortgage on residential and BTL properties.”

The new mortgages are available for employed and self-employed borrowers who are UK citizens currently living abroad.

Loans sizes range from £25,000 to £500,000, and the maximum LTV on both residential and BTL mortgages is 60%.

Dudley is building a reputation of stepping in first and providing support for sectors that have tended to be ignored.

Moore added: “Our move to scrap upper age limits across our product range to help older customers has now been emulated in the market. We shall continue to lead the move into areas which we feel are underserved.”

Dudley became an independent mutual society in 1858, and provides mortgages and savings accounts for the Black Country. Pre-tax profit at the building society reached £1,335,000 in the year ending April 2016.